AAR Expands Global Footprint with $4 Billion MRO Holdings Acquisition

The acquisition, slated to close in early 2027, marks a significant shift in AAR’s strategy to integrate parts, repair, and software services under one umbrella. By absorbing MRO Holdings—which currently employs roughly 10,000 staff across facilities in the United States, Mexico, El Salvador, and Colombia—AAR expects to service nearly 3,000 aircraft annually. AAR CEO John M. Holmes emphasized that heavy maintenance serves as a foundational driver for the company’s broader ecosystem, creating new avenues for data collection and OEM distribution.

Financially, the deal is set to reshape AAR’s balance sheet. The company anticipates the transaction will be accretive to adjusted earnings per share within the first full fiscal year. AAR plans to fund the purchase through a mix of $2.1 billion in new debt, $780 million in equity, and $230 million from a private placement. With $75 million in projected run-rate cost synergies, AAR has raised its target for adjusted EBITDA margins to between 19% and 20% within four years. MRO Holdings’ leadership and investors, including Bain Capital, will retain a minority stake, signaling continued confidence in the combined platform’s growth trajectory.